for the month of July calculate the following

A) budgeted sales

C) budgeted merchandise purchases

Wolfpack Company is a merchandising company that is preparing a budget for the month of July. It has provided the following Information Wolfpack Company Balance Sheet June 10 Assets Cash Accounts receivable Inventory Buildings and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Conan stock Retained warnings Total liabilities and stockholdecal quity $ 75,000 50,000 30.000 150.000 $ 305,000 . $ 35,00 100,000 169,700 5.105.000 Budgeting Assumptions: 1. All sales are on account. Thirty percent of the credit sales are collected in the month of sale and the remaining 70% are collected in the month subsequent to the sale. The accounts receivable at June 30 will be collected in July 2. All merchandise purchases are on account. Twenty percent of merchandise inventory purchases we paid in the month of the purchase and the remaining 80% is paid in the month after the purchase. The accounts receivable at June 30 will be paid in sy 3. The budgeted Inventory balance at July 31 is $22.000 4. Depreciation expense is $3.000 per month. All other selling and administrative expenses we paid in full in the month the expense is incurred 5. The company's cash budget for July shows expected cash collections of $77.000 expected cash disbursements for merchandise purchases of $44.500, and cash paid for selling and administrative expenses of $15.000 Required: lawiate the following Wolfpack Company Balance Sheet June 30 Assets Cash Accounts receivable Inventory Buildings and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 75,000 5e, eee 30,000 150, eee $ 305,000 $ 35, 380 100, eee 169,700 $ 305, eee Budgeting Assumptions: 1. All sales are on account. Thirty percent of the credit sales are collected in the month of sale and the remaini the month subsequent to the sale. The accounts receivable at June 30 will be collected in any 1. All sales are on account. Thirty percent of the credit sales are collected in the month of sale and the remaining 70% are collected in the month subsequent to the sale. The accounts receivable at June 30 will be collected in July 2. All merchandise purchases are on account. Twenty percent of merchandise inventory purchases are paid in the month of the purchase and the remaining 80% is paid in the month after the purchase. The accounts receivable at June 30 will be paid in July, 3. The budgeted inventory balance at July 31 is $22,000. 4 Depreciation expense is $3,000 per month. All other selling and administrative expenses are paid in full in the month the expense is incurred 5. The company's cash budget for July shows expected cash collections of $77,000, expected cash disbursements for merchandise purchases of $44,500, and cash paid for selling and administrative expenses of $15.000 Required: 1. For the month of July, calculate the following: a Budgeted sales b Budgeted merchandise purchases c. Budgeted cost of goods sold